July 2020 – Eolas Money

Month: July 2020

Helping you on Life's Financial Journey

Be Will Wise

6 out of every 10 adults in Ireland have no will according a recent survey by Coyne Research. This is despite the fact that three quarters of those surveyed say its important to have a will!This 90 second animated video takes a look at five reasons why people might write their will. If Eolas money…
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Age to qualify for the State contributory pension could rise to 69

An article in today’s Independent.ie stating that the “Irish Fiscal Advisory Council has suggested the age to qualify for the State contributory pension could rise to 69 by 2035 and that Controversial proposals to increase the age at which people qualify for the State pension have been backed by the State’s budget watchdog.” This should…
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Local Property Tax Annual Debit Payment for 2020

Just a reminder for those of you who pay your Local Property Tax (LPT) by way of Annual Debit. As part of Revenue’s response to the Covid-19 pandemic, the payment date for Annual Debit instructions was deferred from March 21st 2020. Revenue will now present your debit instruction to your bank for full payment on…
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What size is your pension pot?

Some scary statistics from Irish Life in this recent article! The average pension fund size at retirement for their pensioners is just €58,000. The pensions were so small that 60% of retirees were able to take the entire amount as a once-off tax-free lump sum, leaving nothing in their pensions to provide a regular income…
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Mortgage Protection and Inheritance Tax for Cohabiting Couples

According to the 2016 census, there are over 152,000 cohabiting couples living in Ireland¹. As you know, even though a cohabiting couple live together, may own a property together and possibly have children together, in the eyes of Revenue they are treated as ‘strangers’ when it comes to inheritance tax. With a current inheritance tax…
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